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MARKEL GROUP INC.（MKL）与维谛技术（VRT）财务数据对比。点击上方公司名可切换其他公司
MARKEL GROUP INC.的季度营收约是维谛技术的1.3倍（$3.6B vs $2.6B），MARKEL GROUP INC.净利率更高（16.1% vs 14.7%，领先1.4%），维谛技术同比增速更快（30.1% vs -6.9%），维谛技术自由现金流更多（$652.8M vs $599.1M），过去两年维谛技术的营收复合增速更高（16.5% vs -10.5%）
Markel集团是总部位于美国弗吉尼亚州里士满的综合性企业集团，1930年最初以保险公司的身份创立，发展至今业务已覆盖保险承保、投资管理等多个板块，在全球相关行业拥有较高的市场知名度与稳定的合作网络。
维谛技术（Vertiv）是一家美国跨国企业，专注于为数据中心、通信网络、商业及工业场景提供关键基础设施及配套服务，旗下方案可有效保障各行业客户关键业务系统的稳定高效运行。
MKL vs VRT — 直观对比
营收规模更大
MKL
是对方的1.3倍
$2.6B
营收增速更快
VRT
高出37.0%
-6.9%
净利率更高
MKL
高出1.4%
14.7%
自由现金流更多
VRT
多$53.7M
$599.1M
两年增速更快
VRT
近两年复合增速
-10.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.6B | $2.6B |
| 净利润 | $576.8M | $390.1M |
| 毛利率 | — | 37.7% |
| 营业利润率 | 22.2% | — |
| 净利率 | 16.1% | 14.7% |
| 营收同比 | -6.9% | 30.1% |
| 净利润同比 | 5.0% | 137.1% |
| 每股收益（稀释后） | $48.22 | $0.99 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收MKLVRT
| Q1 26 | — | $2.6B | ||
| Q4 25 | $3.6B | $2.9B | ||
| Q3 25 | $3.9B | $2.7B | ||
| Q2 25 | $4.6B | $2.6B | ||
| Q1 25 | $3.4B | $2.0B | ||
| Q4 24 | $3.8B | $2.3B | ||
| Q3 24 | $4.6B | $2.1B | ||
| Q2 24 | $3.7B | $2.0B |
净利润MKLVRT
| Q1 26 | — | $390.1M | ||
| Q4 25 | $576.8M | $445.6M | ||
| Q3 25 | $751.3M | $398.5M | ||
| Q2 25 | $657.1M | $324.2M | ||
| Q1 25 | $121.7M | $164.5M | ||
| Q4 24 | $549.2M | $147.0M | ||
| Q3 24 | $905.0M | $176.6M | ||
| Q2 24 | $267.7M | $178.1M |
毛利率MKLVRT
| Q1 26 | — | 37.7% | ||
| Q4 25 | — | 38.9% | ||
| Q3 25 | — | 37.8% | ||
| Q2 25 | — | 34.0% | ||
| Q1 25 | — | 33.7% | ||
| Q4 24 | — | 37.1% | ||
| Q3 24 | — | 36.5% | ||
| Q2 24 | — | 38.0% |
营业利润率MKLVRT
| Q1 26 | — | — | ||
| Q4 25 | 22.2% | 20.1% | ||
| Q3 25 | 25.7% | 19.3% | ||
| Q2 25 | 24.1% | 16.8% | ||
| Q1 25 | 8.3% | 14.3% | ||
| Q4 24 | 15.5% | 19.5% | ||
| Q3 24 | 29.7% | 17.9% | ||
| Q2 24 | 11.1% | 17.2% |
净利率MKLVRT
| Q1 26 | — | 14.7% | ||
| Q4 25 | 16.1% | 15.5% | ||
| Q3 25 | 19.1% | 14.9% | ||
| Q2 25 | 14.3% | 12.3% | ||
| Q1 25 | 3.6% | 8.1% | ||
| Q4 24 | 14.3% | 6.3% | ||
| Q3 24 | 19.6% | 8.5% | ||
| Q2 24 | 7.2% | 9.1% |
每股收益（稀释后）MKLVRT
| Q1 26 | — | $0.99 | ||
| Q4 25 | $48.22 | $1.14 | ||
| Q3 25 | $59.25 | $1.02 | ||
| Q2 25 | $49.67 | $0.83 | ||
| Q1 25 | $12.08 | $0.42 | ||
| Q4 24 | $39.02 | $0.38 | ||
| Q3 24 | $66.25 | $0.46 | ||
| Q2 24 | $18.62 | $0.46 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $4.0B | $2.5B |
| 总债务越低越好 | $4.3B | $0 |
| 股东权益账面价值 | $18.6B | $4.2B |
| 总资产 | $68.9B | $13.4B |
| 负债/权益比越低杠杆越低 | 0.23× | 0.00× |
8季度趋势，按日历期对齐
现金及短期投资MKLVRT
| Q1 26 | — | $2.5B | ||
| Q4 25 | $4.0B | $1.7B | ||
| Q3 25 | $4.0B | $1.4B | ||
| Q2 25 | $3.7B | $1.6B | ||
| Q1 25 | $4.2B | $1.5B | ||
| Q4 24 | $3.7B | $1.2B | ||
| Q3 24 | $3.9B | $908.7M | ||
| Q2 24 | $3.5B | $579.7M |
总债务MKLVRT
| Q1 26 | — | $0 | ||
| Q4 25 | $4.3B | $2.9B | ||
| Q3 25 | $4.3B | $2.9B | ||
| Q2 25 | $4.4B | $2.9B | ||
| Q1 25 | $4.4B | $2.9B | ||
| Q4 24 | $4.3B | $2.9B | ||
| Q3 24 | $4.4B | $2.9B | ||
| Q2 24 | $4.4B | $2.9B |
股东权益MKLVRT
| Q1 26 | — | $4.2B | ||
| Q4 25 | $18.6B | $3.9B | ||
| Q3 25 | $18.0B | $3.5B | ||
| Q2 25 | $17.3B | $3.1B | ||
| Q1 25 | $17.1B | $2.7B | ||
| Q4 24 | $16.9B | $2.4B | ||
| Q3 24 | $17.0B | $1.8B | ||
| Q2 24 | $15.9B | $1.5B |
总资产MKLVRT
| Q1 26 | — | $13.4B | ||
| Q4 25 | $68.9B | $12.2B | ||
| Q3 25 | $67.4B | $10.8B | ||
| Q2 25 | $66.8B | $10.4B | ||
| Q1 25 | $64.6B | $9.5B | ||
| Q4 24 | $61.9B | $9.1B | ||
| Q3 24 | $62.3B | $8.9B | ||
| Q2 24 | $59.7B | $8.1B |
负债/权益比MKLVRT
| Q1 26 | — | 0.00× | ||
| Q4 25 | 0.23× | 0.74× | ||
| Q3 25 | 0.24× | 0.83× | ||
| Q2 25 | 0.25× | 0.93× | ||
| Q1 25 | 0.26× | 1.10× | ||
| Q4 24 | 0.26× | 1.20× | ||
| Q3 24 | 0.26× | 1.62× | ||
| Q2 24 | 0.28× | 1.91× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $662.2M | — |
| 自由现金流经营现金流 - 资本支出 | $599.1M | $652.8M |
| 自由现金流率自由现金流/营收 | 16.7% | 24.6% |
| 资本支出强度资本支出/营收 | 1.8% | 4.2% |
| 现金转化率经营现金流/净利润 | 1.15× | — |
| 过去12个月自由现金流最近4个季度 | $2.6B | $2.3B |
8季度趋势，按日历期对齐
经营现金流MKLVRT
| Q1 26 | — | — | ||
| Q4 25 | $662.2M | $978.9M | ||
| Q3 25 | $1.2B | $508.7M | ||
| Q2 25 | $504.4M | $322.9M | ||
| Q1 25 | $376.2M | $303.3M | ||
| Q4 24 | $493.9M | $425.2M | ||
| Q3 24 | $890.8M | $378.2M | ||
| Q2 24 | $578.6M | $378.4M |
自由现金流MKLVRT
| Q1 26 | — | $652.8M | ||
| Q4 25 | $599.1M | $885.6M | ||
| Q3 25 | $1.2B | $463.5M | ||
| Q2 25 | $453.8M | $277.9M | ||
| Q1 25 | $335.5M | $266.8M | ||
| Q4 24 | $420.0M | $364.5M | ||
| Q3 24 | $838.9M | $341.8M | ||
| Q2 24 | $521.4M | $344.3M |
自由现金流率MKLVRT
| Q1 26 | — | 24.6% | ||
| Q4 25 | 16.7% | 30.8% | ||
| Q3 25 | 29.6% | 17.3% | ||
| Q2 25 | 9.9% | 10.5% | ||
| Q1 25 | 9.9% | 13.1% | ||
| Q4 24 | 10.9% | 15.5% | ||
| Q3 24 | 18.2% | 16.5% | ||
| Q2 24 | 14.1% | 17.6% |
资本支出强度MKLVRT
| Q1 26 | — | 4.2% | ||
| Q4 25 | 1.8% | 3.2% | ||
| Q3 25 | 1.3% | 1.7% | ||
| Q2 25 | 1.1% | 1.7% | ||
| Q1 25 | 1.2% | 1.8% | ||
| Q4 24 | 1.9% | 2.6% | ||
| Q3 24 | 1.1% | 1.8% | ||
| Q2 24 | 1.5% | 1.7% |
现金转化率MKLVRT
| Q1 26 | — | — | ||
| Q4 25 | 1.15× | 2.20× | ||
| Q3 25 | 1.62× | 1.28× | ||
| Q2 25 | 0.77× | 1.00× | ||
| Q1 25 | 3.09× | 1.84× | ||
| Q4 24 | 0.90× | 2.89× | ||
| Q3 24 | 0.98× | 2.14× | ||
| Q2 24 | 2.16× | 2.12× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
MKL
| Industrial | $1.6B | 45% |
| Consumer And Other | $958.3M | 27% |
| Financial | $737.0M | 21% |
| Other | $198.8M | 6% |
| Corporate Operations | $52.0M | 1% |
| Revenue From Contract With Customer | $10.5M | 0% |
VRT
暂无分部数据
